{"id":1004163869,"date":"2017-01-12T06:40:34","date_gmt":"2017-01-12T14:40:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004163869"},"modified":"2022-12-08T15:57:29","modified_gmt":"2022-12-08T23:57:29","slug":"colony-northstar-merger-largest-of-2016-closes","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-largest-of-2016-closes\/","title":{"rendered":"Record-Breaking Colony-NorthStar Merger Closes"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004163871\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004163871\" data-attachment-id=\"1004163871\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-largest-of-2016-closes\/thomas-j-barrack-jr\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg\" data-orig-size=\"469,352\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Thomas Barrack Jr.\" data-image-description=\"&lt;p&gt;Thomas Barrack Jr.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Thomas Barrack Jr.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg?w=469\" class=\"wp-image-1004163871 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg\" alt=\"Thomas Barrack Jr.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg 469w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Thomas-J.-Barrack-Jr..jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004163871\" class=\"wp-caption-text\">Thomas Barrack Jr.<\/p><\/div>\n<p><strong>Los Angeles and New York<\/strong>\u2014Colony NorthStar Inc. has been born, the completion of the merger of Colony Capital Inc., NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp. having been announced late Tuesday by the new company. The merger reportedly was the largest CRE merger of 2016.<\/p>\n<p>Colony NorthStar has an equity market capitalization of about $9 billion and assets under management of $58 billion. It manages capital on behalf of its stockholders, institutional and retail investors in private funds and non-traded and traded CRE investment trusts and 1940 Act companies.<\/p>\n<p>The transaction was <a href=\"https:\/\/www.commercialsearch.com\/news\/northstar-x-2-colony-in-three-way-merger\/\" target=\"_blank\" rel=\"noopener\">originally announced<\/a> on June 3, 2016 and <a href=\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-merger-wins-stockholder-approval\/\" target=\"_blank\" rel=\"noopener\">approved by all three companies\u2019 stockholders<\/a> at their respective special meetings held on Dec. 20, 2016.<\/p>\n<p>Colony NorthStar will trade on the NYSE under the symbol \u201cCLNS\u201d and was added today to the MSCI U.S. REIT Index (RMZ), where it will be in the top quartile by equity market capitalization.<\/p>\n<p>As previously reported, Colony NorthStar is expected to benefit from:<\/p>\n<ul>\n<li>A seasoned management team with access to proprietary deal sourcing.<\/li>\n<li>A well-diversified portfolio with concentrations in healthcare, industrial, hospitality and opportunistic equity and debt.<\/li>\n<li>Wide access to capital sources through the company\u2019s institutional private funds management business, retail capital platforms including non-traded REITs and publicly traded vehicles such as NorthStar Realty Europe Corp.<\/li>\n<li>About $115 million in annual cost synergies, consisting of about $80 million of cash savings and approximately $35 million of stock-based compensation savings.<\/li>\n<\/ul>\n<p>Thomas Barrack Jr. is executive chairman of the board, David Hamamoto is executive vice chairman and Richard Saltzman is CEO.<\/p>\n<p>The 10-person board of directors includes eight independent directors. In addition to Barrack and Hamamoto, the board comprises four former directors of Colony, a former director of NSAM and a former director of NRF, as well as two newly elected directors.<\/p>\n<p>The closing \u201crepresents a milestone in our collective long-term strategy of building a leading global real estate business focused on a core set of real estate verticals in addition to a top-tier institutional and retail investment management business,\u201d Barrack said in a prepared statement.<\/p>\n<p><em>Image via Colony Inc.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate and investment management company has $58 billion in assets under management.<\/p>\n","protected":false},"author":882,"featured_media":1004163871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,1594,1600,21742,15],"tags":[33430,33431,32954,33284,33432],"class_list":["post-1004163869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-los-angeles","category-new-york","category-latest","category-west","tag-colony-northstar","tag-david-hamamoto","tag-northstar-asset-management-group-inc","tag-northstar-realty-finance-corporation","tag-richard-saltzman"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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